Can P2P Lending Platform Alleviate the Financing Predicament of Small and Micro Business? ——An Empirical Study Based on PPdai Case

P2P网络借贷平台凭借其独特的优势，拓宽了借贷交易的可能性边界，降低了借款人的融资成本，提高了投融资效率。此外，P2P网络借贷平台在引导民间借贷规范化发展、构建多元化资本市场及助推利率市场化改革等方面也发挥了积极作用。作为正规金融机构的补充，P2P网络借贷平台为小微企业开辟了新的融资渠道，有助于缓解小微企业融资难问题。然而，由于政府监管缺失、征信制度建设滞后、投融资者的非理性等原因，造成我国P2P网络借贷平台的“野蛮生长”。违规违法问题平台层出不穷，给投融资者带来了重大损失，并由此引发了P2P网络借贷平台的信任危机。基于此，本文从政府监管、规范我国P2P网络借贷平台发展和投融资策略等三个方面提...By means of its unique advantages, P2P lending platform broadens the trading possibilities frontier of debit and credit, reduces the financing costs of borrowers, and improves the efficiency of both investment and financing. Furthermore, P2P lending platform has also played a positive role in guiding the standardized development of the private lending, building a diversified capital markets, and b...学位：金融硕士院系专业：经济学院_金融硕士学号：1562013115213

An Empirical Study of Earnings Management Based on Real Activities Manipulation——Empirical Evidence from Chinese Listed Companies

以中国上市公司A股2002~2011年的数据为样本,对上市公司的真实盈余管理行为进行了实证研究。研究发现,微盈公司显著存在利用应计项目和真实活动进行正向盈余管理的现象,而在新会计准则实施后,微盈公司利用应计项目进行正向盈余管理的程度显著降低,但利用真实活动进行正向盈余管理的程度显著提高,说明新会计准则的实施促使微盈公司转而利用更加隐蔽的真实盈余管理进行利润操控。进一步研究发现,在控制了资产规模、资产回报率、年持有收益率、操控性应计利润及成长性等影响因素后,上市公司真实盈余管理的程度与其后期的业绩表现显著负相关,说明真实盈余管理行为会损害公司的长期价值。This paper empirically examine the real earnings management behavior of Chinese list companies with the data of Shanghai and Shenzhen A-share from 2002-2011.The results show that small profit companies manage earnings upwards significantly by accruals as well as real activities.Small profit companies use less accrual earning management but more real earnings management significantly after the promulgation of new accounting standards.It suggests that the promulgation of new accounting standards urge small profit companies switch to use more covert real activities to manage earnings.The further research shows that real earnings management is negative related to the subsequent operating performance of list companies after we control other influence factors.It suggests that real earnings management will harm companies' long term value.国家自然科学基金资助项目(70972111); 中央高校基本科研业务费专项资金资助项目(2011221035

高管变更与盈余管理——基于应计项目操控与真实活动操控的实证研究

本文将应计项目操控和真实活动操控纳入分析框架,研究上市公司发生总经理变更后的盈余管理行为。理论分析表明,新任总经理在上任当年利用应计项目负向盈余管理可"一举多得",利用真实活动进行盈余管理却可能会"损公不利己";而在后续年度利用真实活动正向盈余管理虽会"损公"却可"利己"。以沪深A股上市公司2005-2010年数据为样本进行的实证检验结果显示,在总经理变更当年,上市公司存在利用应计项目调减利润的盈余管理行为,但不存在利用真实活动的盈余管理行为。在新任总经理上任后第一、二个完整会计年度,上市公司存在利用应计项目和真实活动调增利润的盈余管理行为。总经理变更当年,如果董事长也发生变更,则上市公司在变更当年利用应计项目调减利润的程度更大,在变更后第一、二个完整会计年度利用应计项目和真实活动调增利润的程度也显著更大

Isolation of microsatellite DNA in Epinephelus akaara

提取赤点石斑鱼(Epinephelus akaara)基因组DNA,经BamH I和Hind III双酶切并电泳回收300~1 000 bp的片段与经BamH I和Hind III双酶切的pUC18质粒重组,转化感受态大肠杆菌JM109,以α互补法筛选重组阳性克隆,建立赤点石斑鱼部分基因组文库。应用PCR混合池法筛选含核心序列为(CA)n和(GA)n微卫星位点的阳性克隆,经DNA测序,得到61个含微卫星序列的克隆,占总克隆数的2.89%。61个用于测序的克隆中共有111个不同类型的微卫星序列,其中(CA/TG)n重复类型57个,占51.4%;(AG/TC)n重复类型35个,占31.5%;其他重复类型19个,占17.1%。完美型、非完美型及复合型序列分别占48.7%、41.4%和9.9%。并在GenBank上注册了22个微卫星序列。A partial genomic library of Epinephelus akaara was constructed and a PCR-based strategy was developed to screen the microsatellites in the library.A total of 2112 recombinant colonies were picked and regrown overnight in 96-well cell culture plates with 100 μL of LB medium plus ampicillin each well at 37℃.Twenty two plates were obtained and there were 20 mixing-pools in each plate.A PCR-based screening library method was used to screen these mixing-pools via the universal primer of M13 and repeat motif primers(CA)7C and(GA)7G,respectively.There were 111 microsatellites isolated after 61 positive clones were sequenced.The results indicated that microsatellite sequences characterized by(AC/GT)n and(GA/CT)n were abundant in genomic DNA of Epinephelus akaara.A portion of microsatellites repeat motifs and their flanking sequences were described.Among the 111 microsatellites,there were 54 perfect ones(48.7%),46 imperfect ones(41.4%),and 11 compound ones(9.9%).The 22 microsatellites sequences were submitted to the GenBank.It is supposed that these loci could be used for further genetic diversity and population structure analysis of Epinephelus akaara.国家自然科学基金项目(40306023,40576064);; 中国高新技术研究计划(2001AA621010

EFFECTS OF TACHYPLESIN AND N-SODIUM BUTYRATE ON THE MORPHOLOGY AND ULTRASTRUCTURE CHANGES OF HUMAN GASTRIC ADENOCARCINOMA CELLS LINE BGC-823

目的以正丁酸钠为平行对照,比较观察鲎素和癌细胞诱导分化物对人胃癌细胞形态与超微结构变化的影响。方法采用光镜、扫描电镜与透射电镜,观察经2.0 mg/L鲎素、2.0 mmol/L正丁酸钠和1.0 mg/L鲎素+1.0 mmol/L正丁酸钠组合处理的人胃腺癌BGC-823细胞。结果光镜观察显示,鲎素和正丁酸钠以及鲎素+正丁酸钠处理的BGC-823细胞形态均较为一致,细胞体积增大、趋于扁平铺展状态,细胞核质比例减小,细胞核形状较圆整,核仁数量减少。扫描与透射电镜观察可见经鲎素、正丁酸钠及其组合处理的BGC-823细胞均出现细胞表面微绒毛稀少,细胞边缘丝状伪足减少,片状伪足增多;细胞核形态较规则,核内异染色质减少,常染色质增多:细胞质内线粒体增多,结构较为一致,高尔基复合体呈较为典型发达状态,并出现粗面内质网增多和多聚核糖体减少等变化。结论鲎素具有与正丁酸钠等诱导分化物相似的改变人胃癌细胞形态与超微结构恶性表型特征的作用,和与诱导分化物协同加成的诱导分化效果。Objective To compare the morphology and ultrastructure changes of human gastric adenocarcinoma cell line treated by tachyplesin and n-sodium butyrate. Methods Light microscope,scanning electron microscope and transmission electron microscope were used to observe human gastric adenocarcinoma cell line BGC-823 treated by 2.0?mg/L tachyplesin,2.0?mmol/L n-sodium butyrate and 1.0?mg/L tachyplesin in combination with 1.0?mmol/L n-sodium butyrate respectively. Results Light microscope observation showed that BGC-823 cells treated by tachyplesin,n-sodium butyrate and tachyplesin+n-sodium butyrate possessed the similar cell modality as follow: the volume of cell increased,the shape of cell became flat and outspread,nucleo-cytoplasmic ratio decreased,the shape of nucleus was rounde,the number of nucleolus decreased.Scanning electron microscope and transmission electron microscope observation showed that,in the BGC-823 cells which were treated with tachyplesin,n-sodium butyrate and tachyplesin in combination with n-sodium butyrate respectively,microvilli and filopodia reduced,sheed pseudopodia increased,the shape of nucleus became regular,heterochromatin decreased while euchromatin increased,the number of mitochondria increased and its structure appeared consistent,Golgi complex turned to be typical,the amount of rough endoplasmic reticulum increased and that of polyribosome decreased.Conclusion All of these results showed that tachyplesin possessed the similar effects to n-sodium butyrate on changing morphology and ultrastructure of human gastric adenocarcinoma cells and possessed an additive role of inducing tumor cells to differentiate cooperatively with n-sodium butyrate to induce carcinoma cell differentiation.国家自然科学基金资助[30170724

Separation and Identification of β-alanine in Sargassum horneri(Turn.) C.Ag.

非蛋白质氨基酸在抗癌、抗菌、抗结核、抗坏血病等方面有着重要的作用。本文主要对铜藻中的游离氨基酸进行检测分析和部分分离纯化及结构鉴定方面的研究,为更好的开发利用这些天然产物提供技术支持。采用离子交换树脂层析法分离铜藻粗提液中的游离氨基酸,收集3 MOl/l的氨水洗脱液,用PITC-HPlC柱前衍生反相高效液相色谱法对其进行检测分析,结果显示粗提液中除含有多种组成蛋白质的氨基酸外还有3种未知组分,且含量较高的常见蛋白质氨基酸为丙氨酸、脯氨酸、缬氨酸。采用半制备高效液相色谱系统制备分离了其中一种未知组分的衍生物MWz2,经真空冷冻干燥后为略黄固体粉末,结合核磁共振波谱、高分辨质谱、红外光谱数据,最终鉴定MWz2去掉已知取代基团PITC后的成分为β-丙氨酸,分子式为C3H7nO2,分子量为89.09。Non-protein amino acids were found to have many bioactivities such as anti-cancer,antibacterial,anti-tuberculosis,anti-scurvy and so on.Detection,separation and identification of free amino acids in Sargassum horneri(Turn.) C.Ag.were studied in this paper,which provided technical support for development and utilization of these natural products.Free amino acids were separated by ion-exchange column chromatography from the crude extracts of Sargassum horneri(Turn.) C.Ag.Amino acids were eluted with 3 mol/L NH4OH and the eluate was collected.Many protein amino acids and three unknown components were discovered in Sargassum horneri(Turn.) C.Ag.by PITC-HPLC.The main protein amino acids were alanine,proline,valine.One unknown derivative component(MWZ2) was obtained by preparation HPLC.MWZ2 was slightly yellow solid powder after vacuum freeze-drying.According to analysis of NMR,HR-MS,IR spectroscopy data,the molecular structure of MWZ2 had been elucidated.MWZ2 was β-alanine after removed substituent component of PITC,its molecular formula was C3H7NO2,molecular weight was 89.09.国家海洋局海洋公益项目(200805041

海岸带不同类型木麻黄防护林的温度效应场

为了探讨木麻黄海岸防护林的温度效应场,2006年11月在东山岛对木麻黄基干林带、片林和农田防护林用多点多线的方法进行了温度测定。调查结果为:基干林带内外温差2℃左右,空间分布成中间低四周高的槽状;片林内外相差1℃-2℃,空间分布为中间低四周高的盆状;农田防护林内外温差为1℃左右,空间分布为狭长的带状。三种不同的林分等值线在林内都形成一定面积的闭合区域。国家“十一五”科技支撑计划项目(2006BAD03A14-01);; 福建省重大科技专项(2006NZ0001-2

伺服运动控制器的调试方法研究

数控机床各进给轴伺服驱动器的参数设置是机床整机调试的一项重要工作。合理的参数设置,是保证机床的加工精度、运行平稳性等基本性能的关键因素之一。通过具体的实践总结,介绍伺服驱动器相关参数设置的基本原则、方法和过程,为数控机床厂商及用户的设备调试与维护提供良好的借鉴

Valence Subband Structure and Optical Gain of InGaAs/InP Quantum Wire

采用有效质量理论 6带模型 ,计算了 In0 .53Ga0 .4 7As/ In P量子线的光学性质 ,具体计算了In0 .53Ga0 .4 7As/ In P量子线的能带结构、态密度、载流子浓度、光学跃迁矩阵元和光学增益谱 ,并把量子线的光学增益谱和量子阱的光学增益谱作了比较。福建省自然科学基金资助课题 (No.E9910 0 0 5

Effect of Process Conditions on Electroless Ni-Co-P alloy

采用硼酸为缓冲剂 ,柠檬酸钠为络合剂化学镀Ni Co P合金。考察了镀液pH值、钴离子浓度和温度对化学镀Ni Co P沉积速度的影响 ;研究了钴离子浓度对镀层组成的影响 ,获得了化学镀Ni Co P合金的最佳工艺条件为 :镀液pH值为 7.0 ,操作温度 90℃ ,CoSO4 ·7H2 O浓度为 11g/L。此工艺下镀液稳定性好 ,镀层沉积速度快 ;所得镀层为非晶结构。The electroless Ni\|Co\|P alloys were deposited from bath using H\-3BO\-3 as buffer agent and sodium citrate as complexing agent. The effects of pH, concentration of Co\+\{2+\} and temperature on depositing rate were studied including the effect of concentration of Co\+\{2+\} on the composition of deposit. Formula of electroless Ni\|Co\|P alloys plating was optimized so as to obtain high depositing rate and good stable bath that pH was 7.0, temperature was 90 ℃ and CoSO\-4·7H\-2O content was 11 g/L. The Ni\|Co\|P plating was an amorphous structure.国家自然科学基金资助课题 (批准号 :2 0 0 730 35